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<br />ST A TE OF COLORADO <br /> <br />Colorado Water Conservation Board <br /> <br />Department of Natural Resources <br />1313 Sherman Street, Room 721 <br />Denver, Colorado 80203 <br />Phone: (303) 866-3441 <br />FPC(: (303)866-4474 <br />www.cwcb.state.co.us <br /> <br /> <br />February 6, 2007 <br /> <br />Bill Ritter Jr. <br />Governor <br /> <br />NOTICE OF PROJECT SUBSTANTIAL COMPLETION AND REPAYMENT <br /> <br />Harris D. Sherman <br />Executive Director <br /> <br />Mrs. Annette Bowin, Manager <br />Town of Akron <br />P.O. BoxP <br />Alaon, CO 80720 <br /> <br />Rod Kuharich <br />CWCB Director <br /> <br />Dan McAuliffe <br />Deputy Director <br /> <br />Re: Contract Number C150111- Raw Water Delivery Project <br /> <br />Dear Mrs. Bowin: <br /> <br />This letter is to advise you that the work described in the above referenced Contract was substantially completed as of <br />September 1, 2006. <br /> <br />In accordance with the Contract, the Town of Alaon owes $6,372.37 for interest during construction, as calculated on the <br />attached spreadsheet, due by February 26,2007. Please make your check for interest during construction payable to the Colorado <br />Water Conservation Board and include the Contract Number on the check. <br /> <br />As outlined in the Promissory Note, Appendix 2 of the Contract, your fIrst loan payment in the amount of$19,619.39 is <br />due on September 1, 2007. A prepayment of $68,840.20 has been applied to your principal balance to account for the actual funds <br />expended to construct your project. The annual loan payment was based on the Town's approved contract amount of <br />$349,799.00, which results in a term reduction from 30-years to 21-years, as illustrated on the attached Loan Repayment <br />Schedule. Additionally, attached is a copy of the Promissory Note. <br /> <br />In accordance with the Borrower's Liability Insurance Provision of the Contract, Paragraph A.6, please note that the <br />renewed insurance certifIcates need to be provided to the Colorado Water Conservation Board annually. <br /> <br />It has been a pleasure of the Colorado Water Conservation Board to work with the Town of Akron on the successful <br />completion of this project. Please call if you have any questions regarding this matter or if we can be of service to you in the <br />future. <br /> <br />Sin:~eX ~ ~ <br />~J~' <br /> <br />Mike Serlet, P.E. <br />Chief, Water Supply Planning and Finance Section <br /> <br />cc. Eric Wilkinson, CWCB Board Member <br />Water Supply Planning and Finance Section <br />Project fIle <br />Contract fIle <br /> <br />Contract Amount <br />Expended Amount <br /> <br />= $349,799.00 <br />= $280,958.80 <br /> <br />Flood Protection. Water Supply Planning and Finance. Stream and Lake Protection <br />Water Supply Protection. Conservation and Drought Plahning <br />